I strongly encourage people to use some sort of "off-site" storage. The obvious reason is what would happen if you have a house fire or your roof tank ruptures? Would retrieving your new HDD be the first priority? At least with an off-site version you can reconstruct... and this doesn't just apply to photos, think about any important docs.
I'm a retired IT manager who looked after an estate of 30,000 PC's. I separated my data from my device many years ago, because it was a PITA when I upgraded the PC to transfer the data, and also individual PC standard HD's are vulnerable to failure (about 30per day when I was working). My kit is as follows (it may be overkill for most of you but take out of it what suits you): I have a 4 disk Network attached storage (NAS) with 4x2TB disks. This gives me 6TB of usable space because the disks are set up in a "RAID" Array, which stores a part of each individual byte of information across 3 of the 4 disks. The 4th disk records the "checksum" (a number which is the sum of the data in that byte). If a disk fails, the data can be reconstructed on the fly from the other 2 and the checksum, and usually most devices will automatically repopulate the blank disk that replaces the failed one.
If I have to rebuild my PC, it's a 2 minute job to link the PC default folders to the matching folders on the NAS.
The NAS backs up to an external 4TB HDD attached to it by USB. This ISN'T a data security backup, but an "oops I screwed up that excel file yesterday, I'll restore an older copy from the backup.
The real data security comes from my NAS replicating to OneDrive (my personal choice - many others are available) continuously so if the house burns down I loose all the kit, minus the ability to go back to older versions of documents. In the event of a disaster, a small price to pay.
Oh and do disasters happen? Yes. On the night of the opening of the London Olympics, a large NAS (as in £00k's worth and 500TB) in one of our legacy data centres had a water pipe burst over the top of it... Our DR sprang into action and we only had TWO HOURS recorded outage, but in actual fact facilities were coming back gradually over the 2 hours